=Oclaro (OCLR) reported earnings on Mon 5 Feb 2018 (a/h)

Oclaro is a US-based business manufacturing and selling optical components. Formerly listed on the London Stock Exchange and a constituent of the FTSE 100 Index, the company now trades on the NASDAQ.

• Headquarters: San Jose, CA
• Founded: 1988
• oclaro.com

Oclaro beats by $0.02, reports revs in-line; guides Q3 revs below consensus

• Reports Q2 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.12; revenues fell 9.5% year/year to $139.3 mln vs the $138.83 mln Capital IQ Consensus.
• Co issues downside guidance for Q3, sees Q3 revs of $120-128 mln vs. $132.77 mln Capital IQ Consensus Estimate.
  • Non-GAAP gross margin in the range of 34% to 37%.
  • Non-GAAP operating income in the range of $13 million to $17 million.
• "The December quarter results were in line with our expectations. While revenue declined from the prior quarter, the team again delivered strong gross margin, profitability and cash flow," said Greg Dougherty, Chief Executive Officer, Oclaro. "While we project March quarter revenue to be down sequentially, we anticipate another quarter of solid operating income. As the headwinds facing the industry begin to subside, and we ramp new products, our revenue is expected to resume growth in the June quarter."